Find the average daily balance for the credit card with the following transactions.
Assume one month between billing dates using the proper number of days in the
month. Then find the finance charge if interest is 1.5% per month on the average daily
balance. Finally, find the new balance.
Previous Balance
Billing Date
Date Transaction
Aug. 20
Return
Aug. 25
Purchase
Aug. 29
Purchase
Sep. 6
Payment
$555.39
Aug. 11
Amount
$ 76.34
$73.76
$ 72.82
$210
The average daily balance is $
(Round to the nearest cent.)
The finance charge is $
(Round to the nearest cent.)
The new balance is $